RE:Capitalist bear I see HVU going down until it goes up. Unfortunately anything more than that is speculation and I'm not seeing a lot of clear S&P signals right now. The Elliott Wave guys are calling for another blow off top before a move down in S&P but it's tough to say. Decay is bad right now and VIX is not responding to S&P so even a holding pattern is bad for HVU.
All I can say is I don't own HVU at the moment but may dabble back in if a blow off top occurs and beats it up. Do your own due dilligence and make your own trading decisions. These are my opinions, not trading advice.